By
Chimamanda U. Martha
April 25th, 2024
Chrismas celebration comes early for 300 million Telegrams users as they are expected to gain from Button Wallet crypto’s trading, which is expected to launch in October this year.
Bitcoin’s gold rush so far this year, which has witnessed the Bitcoin price escalate to a tune of about 200% since early 2019, has broadly influenced some of the globe’s giant technology firms gaining an interest in cryptocurrencies and Bitcoin.
The Bitcoin price has reached $10,000 mark as Bitcoin investors and traders fret international regulators might scotch social media power house Facebook’s strategy for its own Bitcoin competitor, viewed by others as an implicit backing of Bitcoin and its key technology.
Now, Telegram is soon ushering in crypto trading. The messaging app currently boasts of over 300 million subscribers around the globe, through crypto and Bitcoin wallet provider Button Wallet.
Speaking of Button Wallet, it’s Co-founder and chief executive, Alex Safonove, said:
“Cryptos’ biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money.”
Button Wallet has today launched what it perports is the first free cryptocurrency testing network on the Telegram Open Network and is offering a portion of Telegram’s gram crtypto to enhance acceptance.
Any Telegram subscribers can activate Button’s Telegram Open Network wallet and obtain 6.6 testnet GRAMs on the account. Button Wallet helps Bitcoin and other altcoins.
Furthemore, Safonov indicated:
“With all the fanfare surrounding Facebook’s libra digital currency, there hasn’t been a way to explore digital assets without risk, until now with Button Wallet and the Telegram Open Network.”
While the adoption of cryptocurrency and Bitcoin has slaggish over the past years, recent research claims it’s gaining its lost glory.
In mid this year, a research from HBUS, the United States partner of the Singapore located Huobi Bitcoin and crypto exchange, launched what it dubbed “rapid” Bitcoin and crypto adoption. Interestingly, the percentage of individual in the United States holding cryptos doubling over the last year.
Security Wobbles
According to the Button Wallet’s chief operational officer, Rachael McCrary:
“There’s common fear around crypto which is preventing some people from becoming new users. Giving them the ability to practice performing transactions helps remove fear around trading real digital assets.”
Meaningwhile,reports leaked this week that Telegram that has recently gained popularity with pro-democracy crusaders in Hong Kong in spite of being illegalised in China, has a technical concern that could be spying phone numbers.
Security experts have issued warning that while the recognised challenge doesn’t open private information content, it illustrates what can occurs when the crimonals or authorities can understand the security and privacy of apps-something crypto and Bitcoin exchanges have long avoided.